The State Of Current Petroleum Inventories

Petroleum inventories have been dropping sharply and this is giving the industry much hope that things are getting better. Experts say that oil production will not get ramped up for a while, thus inventories should continue to drop. With West Texas Intermediate approaching $70, this is a good time to do those revamps, upgrades, and retrofits. Falling inventories is always a good sign because it indicates that demand is strong. The industry should start seeing some pretty juicy profits in the near future – hope some of that goes back into maintaining the facilities and infrastructure.

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